A staff member works in a textile factory at the integrated industrial park in Moyu County of Hotan, northwest China's Xinjiang Uygur Autonomous Region, Jan 11, 2022. (PHOTO / XINHUA)

BEIJING – Profits of China's major industrial firms fell 1.1 percent year on year in the first seven months of 2022, official data showed on Saturday.

Industrial firms each with annual main business revenue of at least 20 million yuan (about $2.92 million) saw their combined profits reach 4.89 trillion yuan in the period, the National Bureau of Statistics said.  

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